Birds Eye Iglo has emerged from 2008 as one of the few consumer-facing companies to benefit from the flight to frugality by anxious Britons, with sales and profits up for the year.

The privately owned food producer, which was bought by Permira 18 months ago, has managed to increase sales in the UK by 5 per cent in 2008, while earnings before interest, tax, depreciation and amortisation grew 10 per cent over the year.